USD/JPY (week of 19-23/09)

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Weekly Summary

After ending yesterday at 143.36, Dollar/Yen increases slightly to 143.36 (up 14,335 pips) .

A good end to the trading week, USD/JPY is up to 143.36, after closing yesterday at zero. Overall, a 0% move or 14,335 pips this week. (Start trading Dollar/Yen at FXTM today).

Dollar/Yen upside coincides with further encouraging market factors as highly important Crude Oil Inventories data from United States beat analyst expectations of 2.16 million with a reading of 1.14 million.

On the flip side, highly important Initial Jobless Claims data from United States beat analyst expectations of 218,000 with a reading of 213,000.

Meanwhile, Japan CFTC JPY speculative net positions released today at 19:30 UTC with a figure of -81,300, while the previous figure was -80,700. Japan Interest Rate came out at -0.1, while a consensus of analysts was expecting -0.1. United States Interest Rate came out at 3.25, while a consensus of analysts was expecting 3.25.

The market is looking forward to the release of new data: projections for Japan Industrial Production are set for a continuation of decline with 0.2% while previous data was 0.8%; data will be released Thursday. Japan Retail Sales is projected to outperform its last figure with 2.8%. It previously stood at 2.4%; data will be released Thursday. Japan Services PMI is expected Monday.

Sep. 23, 2022

Dollar/Yen currency pair adds 99 pips or 0.7%

(23:12) GMT

After closing the previous trading day at 142.36, Dollar/Yen went up to 143.46 only to drop back; still positive overall today, now trading at 143.36.

Nevertheless, data for United States Initial Jobless Claims released yesterday at 12:30 UTC is better than expected with 213,000, but worse than previous figure of 208,000.

At the same time, Japan CFTC JPY speculative net positions released today at 19:30 UTC with a figure of -81,300, while the previous figure was -80,700. Japan Interest Rate came out at -0.1, while a consensus of analysts was expecting -0.1.

USD/JPY broke through the 142.66 resistance and climbed above it 70 pips; next resistance level is at 142.75. Dollar/Yen made an initial breakout above its 10 day Simple Moving Average at 143.32, a potential indicator of a newly emerging bullish phase.

Overall, looking at the technical analysis landscape, it seems Dollar/Yen might continue pointing upwards in the short term.

At the same time, after ending yesterday's session at 1.126, GBP/USD lost 411 pips and is trading around 1.0848. After ending yesterday's session at 1.9264, GBP/NZD lost 378 pips and is trading around 1.8885. GBP/CAD tumbles 2.92% to trade around 1.4744.

Dollar/Yen is now trading 1.75% away from its significant high of 144.9 first tested 10 days ago.

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